Northrop Grumman Co. (NYSE:NOC) Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd lessened its stake in Northrop Grumman Co. (NYSE:NOC) by 71.2% in the 2nd quarter, Holdings Channel reports. The firm owned 682 shares of the aerospace company’s stock after selling 1,687 shares during the period. Plato Investment Management Ltd’s holdings in Northrop Grumman were worth $297,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Optimum Investment Advisors increased its holdings in Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 41 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at approximately $29,000. Bank & Trust Co acquired a new stake in Northrop Grumman in the 2nd quarter valued at approximately $28,000. Meeder Asset Management Inc. increased its holdings in Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 54 shares during the last quarter. Finally, Rise Advisors LLC acquired a new stake in Northrop Grumman in the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Activity at Northrop Grumman

In other news, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $477.56, for a total value of $663,330.84. Following the completion of the sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The disclosure for this sale can be found here. Insiders sold a total of 2,846 shares of company stock valued at $1,393,028 over the last ninety days. Insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

Shares of NOC opened at $521.50 on Tuesday. Northrop Grumman Co. has a 1-year low of $414.56 and a 1-year high of $528.76. The stock has a market cap of $77.18 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 2.36 and a beta of 0.34. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99. The firm has a fifty day moving average price of $488.54 and a 200 day moving average price of $468.04.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, beating analysts’ consensus estimates of $5.93 by $0.43. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The firm had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $10.02 billion. During the same period in the previous year, the company earned $5.34 earnings per share. Northrop Grumman’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Northrop Grumman Co. will post 25.14 EPS for the current year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be given a $2.06 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.58%. Northrop Grumman’s dividend payout ratio (DPR) is presently 57.62%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and lifted their target price for the company from $474.00 to $575.00 in a report on Monday, July 29th. Jefferies Financial Group dropped their price target on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating for the company in a research note on Tuesday, June 18th. Alembic Global Advisors downgraded shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target for the company. in a research note on Tuesday, August 27th. BTIG Research assumed coverage on shares of Northrop Grumman in a research note on Wednesday, June 26th. They issued a “buy” rating and a $565.00 price target for the company. Finally, UBS Group boosted their price target on shares of Northrop Grumman from $593.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $523.20.

Northrop Grumman Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.